U.S. Oil and Gas Rig Count Drops to 588

Baker Hughes reported a decrease of five active oil and gas rigs in the United States last week, bringing the national total to 588. The energy services company also noted a decline in Canada, where the rig count fell by two to a total of 216.

Regional performance within the United States remained mixed. The Permian and Eagle Ford basins both saw increases in activity. Conversely, the Haynesville region lost two rigs and the Granite Wash region lost one.

Other major production areas, including the Marcellus and Williston basins, reported no net change in their active rig counts for the period.